Prometheus Unbound: What Makes Fintech Grow?

Serhan Cevik

Economics and Politics, 2025, vol. 37, issue 3, 1145-1156

Abstract: The rise of financial technologies—fintech—has the potential to transform the financial landscape by extending the reach of services beyond geographic boundaries and introducing new, competitive sources of finance for both households and firms. But what drives fintech growth? Why do some countries experience more financial innovation than others? This article explores these questions using a novel data set covering 98 countries from 2012 to 2020. Through empirical analysis, it identifies key economic, demographic, technological, and institutional factors that influence the emergence and diffusion of fintech. The impact and statistical significance of these factors vary depending on the type of fintech instrument and the level of economic development—distinguishing between advanced and developing economies. The findings suggest that targeted policies and structural reforms can foster financial innovation, particularly by enhancing technological and institutional infrastructure and addressing cybersecurity vulnerabilities.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/ecpo.70006

Related works:
Working Paper: Prometheus Unbound: What Makes Fintech Grow? (2025)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ecopol:v:37:y:2025:i:3:p:1145-1156

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0954-1985

Access Statistics for this article

Economics and Politics is currently edited by Peter Rosendorff

More articles in Economics and Politics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().